L3harris Technologies, Inc. · NYSE:LHX
L3harris Technologies — Q1 2025 Earnings Presentation
13 slides from L3harris Technologies's earnings presentation, Apr 24, 2025
Slide 1: First Quarter 2025 Earnings Presentation
FIRST QUARTER 2025 EARNINGS PRESENTATION APRIL 24, 2025
Slide 2: Delivering Shareholder Value
DELIVERING SHAREHOLDER VALUE Trusted Disruptor strategy ensures we 2025 2026 are agile, fast, and align with key defense Guidance Framework priorities Drive profitable growth, ensuring we 4% Organic Revenue $21.4B - $21.7B $23B 2023 - 2026 continue to deliver on commitments to CAGR customers and sha
Slide 3: First Quarter 2025 Financial Results
FIRST QUARTER 2025 FINANCIAL RESULTS $5.1B $800M 15.6% $2.41 Revenue Adjusted Segment Adjusted Segment Non-GAAP 1 2 1 Operating Income Operating Margin Diluted EPS ($72M) $228M $569M Adjusted Free Dividends Share Repurchases 1 Cash Flow $4.3B 0.84x $33.2B Orders Book-to-Bill Total Backlog The first
Slide 4: Trusted Disruptor Strategy at Work
TRUSTED DISRUPTOR STRATEGY AT WORK… Communication Systems (CS) Integrated Mission Systems (IMS) TRUSTED TRUSTED Signed long term First missionized framework agreement Skyraider II aircraft with Dutch MoD for was delivered to U.S. Air Force Special communications modernization DISRUPTIVE Operations C
Slide 5: Communication Systems
COMMUNICATION SYSTEMS ($ millions) Revenue Adjusted Operating Income and Margin $1,294 $1,352 $345 $310 25.5% 24.0% 1Q24 1Q25 1Q24 1Q25 1Q25 DRIVERS Revenue: increased 4% Margin: increased 150 basis points + Increased international volume + Favorable high margin international mix in Tactical Communi
Slide 6: Integrated Mission Systems
INTEGRATED MISSION SYSTEMS ($ millions) Revenue Adjusted Operating Income and Margin $1,627 $1,592 $185 $203 11.4% 12.8% 1Q24 1Q25 1Q24 1Q25 1Q25 DRIVERS Revenue: decreased 2% Margin: increased 140 basis points - Lower aircraft missionization volume + Improved program performance - Planned ISR missi
Slide 7: Space & Airborne Systems
SPACE & AIRBORNE SYSTEMS ($ millions) Revenue Adjusted Operating Income and Margin $1,751 $1,611 $216 $176 12.3% 10.9% 1Q24 1Q25 1Q24 1Q25 1Q25 DRIVERS Revenue: decreased 8%, 6% organically Margin: decreased 140 basis points - Antenna Products divestiture - Challenges on classified development progr
Slide 8: Aerojet Rocketdyne
AEROJET ROCKETDYNE ($ millions) Revenue Adjusted Operating Income and Margin $629 $584 $77 $76 13.2% 12.1% 1Q24 1Q25 1Q24 1Q25 1Q25 DRIVERS Revenue: increased 8%, 9% organically Margin: decreased 110 basis points + Increased production volume across key - Lower net favorable EAC adjustments missile
Slide 9: 2025 Guidance
2025 GUIDANCE Guidance has been updated to reflect recent portfolio actions. These changes include both a divestiture and an internal business realignment: • Divestiture of CAS – We completed the sale of our last remaining commercial aerospace business, resulting in an approximately $525 million red
Slide 10: 2025 Supplemental Information
2025 SUPPLEMENTAL INFORMATION 2025 2025 Current Prior FAS/CAS operating adjustment ~$15 million ~$15 million Non-service FAS pension income ~$270 million ~$260 million Net FAS/CAS pension ~$285 million ~$275 million Net interest expense ~$600 million ~$630 million Effective tax rate on non-GAAP earn
Slide 11: EPS Guidance
EPS GUIDANCE 2025 Guidance 1 Non-GAAP Diluted EPS (Previous Guidance) $10.55 - $10.85 CAS divestiture ~(0.55) Improved performance & capital deployment actions ~0.25 1 Non-GAAP Diluted EPS (Updated Guidance) $10.30 - $10.50 YoY Growth % 7%* *Based on mid-point 1) NGFM - A reconciliation of forward-l
Slide 12: EPS Reconciliation
EPS RECONCILIATION 1Q 2025 GAAP Diluted EPS $2.04 LHX NeXt implementation costs 0.19 Merger, acquisition, and divestiture-related expenses 0.09 Other 0.09 1 Non-GAAP Diluted EPS $2.41 Net FAS/CAS pension (0.42) 1 Pension Adjusted Non-GAAP EPS $1.99 YoY Growth % 9% 1) NGFM - reference the 1Q25 earnin
Slide 13: Forward-Looking Statements; Non-GAAP Measures
Forward-Looking Statements; Non-GAAP Measures This presentation contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples include, but are not limited to: statemen
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